Market Overview

UPDATE: Goldman Sachs Raises PT to $216 on Equinix on REIT Commitment

Share:
Related EQIX
Benzinga's Top Initiations
10 Largest Price Target Changes For Friday
Best Near-Term Price Gains Ahead For: Communication Services Stocks (Seeking Alpha)

Goldman Sachs reiterated its Neutral rating on Equinix (NASDAQ: EQIX) but raised its price target from $195 to $216.

Goldman Sachs commented, "EQIX announced that its Board of directors approved a plan for the company to convert to a REIT. The company intends to file for a private letter ruling from the IRS by year end, with expectations to elect REIT status for 2015. … We view the certainty around the REIT commitment positively, but we remain Neutral rated on EQIX as we believe the share price already values the firm as a REIT. We adjust our price target to $216 from $195 as we move to a 100% REIT-weighted methodology (from 75% + 25% nonREIT/DCF-based)."

Equinix closed at $195.28 on Friday.

Latest Ratings for EQIX

DateFirmActionFromTo
Jul 2016SunTrust Robinson HumphreyInitiates Coverage onBuy
Jul 2016JefferiesDowngradesBuyHold
Jul 2016Goldman SachsInitiates Coverage onBuy

View More Analyst Ratings for EQIX
View the Latest Analyst Ratings

Posted-In: Goldman SachsAnalyst Color Price Target Intraday Update Analyst Ratings

 

Related Articles (EQIX)

View Comments and Join the Discussion!